Hard Money Lender in Shelter Island, NY
Rates Starting at 10%
West Forest Capital is your trusted hard money lender in Shelter Island, NY, offering up to $3 million in fast funding for real estate investors. With our streamlined approval process, we help you close deals efficiently in this competitive market.
- We handle all loan funding directly, with no outside brokers involved.
- Pre-approvals are processed on the same day you apply.
- Expect closings in 3 to 5 business days, with 24-hour funding available for urgent needs.
- We are capable of funding up to $5 million when necessary.
The Trust We've Earned
Property Types
- Multi-family
- Single-family Investment Properties
- Condominiums
- Apartments
- Co-ops
- Retail
- Small Office Buildings
- Industrial & Warehouse
- Duplex
- Triplex
- Quadplex
- Mixed-Use
Lending Parameters
| Loan Size | $100,000 to $5,000,000 |
| LTC | Up to 80% of purchase price |
| Rehab Funding | 100% |
| LTV | Up to 70% of the ARV |
| Term | Standard is 12 months. 24-36 months is available |
| Lien | First lien; second lien as additional collateral only |
| Interest Rate | 10%–12.5% |
| Points | 1.5–2% of the loan amount |
Areas Covered
West Forest Capital lends in the following areas in Shelter Island, NY:
- Shelter Island
- Shelter Island Heights
- Dering Harbor
- West Neck
- South Ferry
- Hay Beach
Quogue, Long Island, New York
- Location:Quogue, Long Island, NY
- Purchase Price:$3,675,000
- Rehab Budget:$2,200,000
- Loan Amount:$3,200,000
- ARV:$8,950,000
- Exit Strategy:Sale
- Investor Capital:$1,675,000
- Equity Created:$3,275,000
- Investor Return on Capital:204%
- Details
Our client obtained a Long Island hard money loan in the Hamptons (Quogue) to refinance an existing construction loan and allow for additional capital to finish the project. This is an expansive 7,000+ square foot home located on a waterfront lot and is expected to have high end finishes. At the time the loan was made, the as-is value was appraised at $6.6m, with an as-complete value appraisal of nearly $9m.
Dix Hills, New York
- Location:Dix Hills, NY
- Purchase Price:$999,000
- Rehab Budget:$92,000
- Loan Amount:$867,000
- ARV:$1,355,000
- Exit Strategy:Sale
- Investor Capital:$224,000
- Equity Created:$264,000
- Investor Return on Capital:118%
- Details
This loan was originated to finance a cosmetic fix and flip. This is a large 4,300 sqft foot home located in a high demand area of Dix Hills. The home was purchased significantly under market value, with instant equity created day one. The rehab will include interior painting, updating the kitchen (including appliance upgrades), bathrooms, and some exterior clean up.1. This loan was originated to finance a cosmetic fix and flip. This is a large 4,300 sqft foot home located in a high demand area of Dix Hills. The home was purchased significantly under market value, with instant equity created day one. The rehab will include interior painting, updating the kitchen (including appliance upgrades), bathrooms, and some exterior clean up.
Staten Island, New York
- Location: Staten Island, NY
- Purchase Price:$600,000
- Rehab Budget:$60,000
- Loan Amount:$450,000
- After Repair Value:$1,125,000
- Exit Strategy:Sale
- Investor Capital:$210,000
- Equity Created:$180,000
- Investor Return on Capital:86%
- Details
This property was purchased under market value for $600,000. In addition to funding the majority of the purchase price, 100% of the rehab budget was also provided to the borrower. Within just 3 months, the property was listed on the market, and ultimately sold shortly thereafter. After a smooth process all around, our client has become a repeat borrower, continuing to focus on the Staten Island market.
Why Use a Hard Money Loan
- If you need funding fast.
When time is of the essence, traditional lenders may slow down your progress with their long approval processes. At West Forest Capital, we offer a faster alternative, providing same-day loan approvals. We can fund your deal within 3 to 5 days, and if necessary, we can fund it in as little as 24 hours, ensuring that you never miss an opportunity while waiting for bank approval. - If the property isn’t stabilized.Many properties that require significant work or lack important documents are not eligible for bank financing. Whether the property is a vacant building, a fixer-upper, or one without a Certificate of Occupancy, most banks won’t approve financing for these properties. At West Forest Capital, we specialize in providing financing for these types of properties, helping you secure the funding you need to move forward.
- If you have poor credit.
At West Forest Capital, we don’t base our decisions solely on your credit score. We recognize that the value of an investment lies in the property itself. If the property has strong potential for return, we’re ready to finance the deal. Past credit issues won’t hold you back when the investment opportunity is solid. - If you don’t want to take a loan in your personal name.
LLCs and corporations provide investors with protection from personal liability, a key factor in successful real estate investing. At West Forest Capital, we offer financing tailored to business entities. We understand the importance of asset protection and don’t require personal guarantees like traditional banks do.
Why Choose A Shelter Island, NY Hard Money Lender
We are proud to serve as a trusted hard money lender in Shelter Island, NY, supporting investors throughout Suffolk County and the far reaches of eastern Long Island. Our team understands Shelter Island’s unique market, from its seasonal rental opportunities to long-term investment properties that attract steady demand. Whether you are renovating a vacation home, upgrading a rental unit, or investing in a unique island property, we know the area and can provide fast and dependable funding. When timing is urgent, we are close by and ready to move immediately.
West Forest Capital also offers its expertise well beyond Shelter Island, NY. From the steady suburban markets of Nassau County to the thriving vacation investment regions near Montauk, we bring experience, strong capital, and swift funding wherever your real estate opportunities appear.
Financing your Shelter Island, NY Investment Property
Shelter Island, NY, offers a truly unique real estate environment, combining natural beauty, seasonal demand, and a high-value property market. With a mix of vacation homes, long-standing residences, and waterfront estates, the area provides investors with rare opportunities that continue to attract interest year after year. Following the post-COVID interest in spacious and scenic properties, Shelter Island, NY has experienced strong appreciation as buyers seek privacy and lifestyle-focused living. This has helped create a thriving market for investors looking for standout properties in a distinctive setting.
Financing for such opportunities should not be slowed by traditional lending obstacles. West Forest Capital provides fast, responsive funding and operates as a supportive partner in your investment plans. Many of our loan decisions are made during your first discussion with us. Call 212‑537‑5833 today, and talk directly with the individuals who can approve your financing quickly.
Asset-backed Lender Focused on Customized Solutions
At West Forest Capital, we offer a deep understanding of the Shelter Island, NY real estate market, which allows us to provide highly flexible and tailored hard money loan options for investors. We focus on financing based on the current and future value of a property, rather than adhering to the strict criteria set by traditional lenders. This enables us to fund projects on Shelter Island, NY that often cover more than 100% of the acquisition and renovation costs, helping investors maximize the potential of their properties.
One of the key benefits we offer is a 3-year loan term, the longest available in the hard money lending industry. This extended term is ideal for investors who need more time to stabilize or reposition a property before selling or refinancing, allowing for greater flexibility and higher returns. With this added time, investors can make smarter decisions and position their investments for long-term success.
Call us today or apply online to secure the financing you need for your Shelter Island, NY investment.
Hard Money Lender in Shelter Island, NY: Frequently Asked Questions
What are hard money lenders?
West Forest Capital operates as a trusted hard money lender, providing private, asset-based loans to real estate investors. Instead of relying on your FICO score, we evaluate each investment based on its purchase price and projected after-repair value (ARV), allowing us to focus on the property’s value. This fast-track approach enables us to fund your project in five days or less, significantly faster than traditional banks, which can take weeks to approve loans.
We are the preferred choice for investors who require fast decisions, flexible terms, and funding for properties that traditional banks might avoid. This includes properties missing a Certificate of Occupancy or needing substantial renovations. Additionally, we work with clients who are rebuilding their credit or need quick refinancing under tight timelines. As private money partners, we specialize in auction purchases and fast-turnaround flips.
Since hard money loans are commercial loans, we only extend funding to LLCs. Establishing an LLC is straightforward, even for solo investors. Along with the LLC, we ensure that the property title is clear and assess the full scope of the project, including detailed rehab plans.
If you’re a real estate investor in need of speed and flexibility, West Forest Capital offers the support and fast action required to keep your deal on track.
How Do Hard Money Loans Work?
Hard money loans are designed to offer investors fast access to funding, especially in situations where traditional bank financing would take too long. While they offer quick approval, they come with higher costs, such as interest rates between 9% and 12%, and closing fees of 1 to 3 points. These loans are typically short-term, lasting one to two years, and are well-suited for projects that require quick action.
Hard money loans generally consist of two main parts: (1) a purchase loan, which typically covers 70% to 85% of the property’s acquisition cost, and (2) a rehab loan to cover the costs of necessary repairs. At West Forest Capital, we frequently provide financing for the full rehab budget when extensive work is required to increase the property’s value.
If no renovations are necessary, the rehab portion of the loan is excluded. When renovations are required, funds are disbursed in stages, typically after parts of the project are completed. For instance, with a $50,000 renovation, the borrower may receive $15,000 after completing the first part of the work. The total loan amount, including purchase and rehab, is usually capped at 65% of the projected after-repair value (ARV).
What do hard money lenders look for?
At West Forest Capital, we are dedicated to assisting you throughout your real estate investment journey by ensuring that each transaction is secure and financially sound. We offer hard money loans that are customized to your needs, helping you achieve your investment goals while preserving the integrity of your deals.
As commercial lenders, we provide funding only to LLCs, not individuals. If you have not yet set up an LLC, don’t worry as creating a single-member LLC is quick and straightforward, and we are happy to guide you through every step of the process.
We evaluate loans based on two key financial factors: the purchase price and the projected after-repair value (ARV) of the property. To maximize your profitability, we prefer the purchase price to be at or below market value. If you request renovation funds, we will thoroughly review your proposed repair budget and timeline to ensure they align with the projected ARV.
Before closing, we require a clean and marketable title. Any liens, claims, or judgments that impact the property or your LLC must be cleared before funding. While we offer flexibility in many areas, we do require a clear repayment plan and strong financial foundation.
We specialize in funding deals that have strong potential for profit, those where the numbers support a profitable outcome after considering all costs, including the purchase, renovation, loan interest, and closing fees. Once we verify the financial details, we act quickly to help you close with confidence.
What is hard money used for?
On Shelter Island, NY, hard money loans are frequently used for the following:
- To purchase and renovate a property in Shelter Island, NY that banks are likely to reject due to its condition or the borrower’s financial background, with the intention of reselling it for a profit. This “fix and flip” strategy is commonly employed for properties that need significant work before they can be sold at a higher price.
- To acquire and renovate a property in Shelter Island, NY that cannot be financed through traditional methods, with the intention of renting it out. Once the property is rented and providing steady income, it may qualify for conventional refinancing.
- To secure ownership of a property in Shelter Island, NY when time is of the essence, such as bidding on a foreclosure or off-market property. Traditional banks may take months to approve such deals, but hard money lenders can close quickly, sometimes within a week.
- To access capital quickly through a cash-out refinance by using an existing Shelter Island property as collateral.
- To refinance a mortgage or balloon payment coming due on a Shelter Island property, offering investors a faster alternative to the conventional bank process.
- To finance major repairs or improvements for a property in Shelter Island, NY that traditional lenders are hesitant to support due to the property’s condition.
- To purchase a property on Shelter Island, NY under an LLC, a scenario where many banks would not approve the loan but one that offers added protection for investors..